Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<p>The Korea Exchange (KRX) will announce the results of the December 2020 review of the KOSDAQ150 Index in the second half of November. The constituent changes will be effective from the open on 11 December 2020 and the rebalancing trades will need to be done at the closing auction on 10 December 2020.</p><p>The review covers the period from 1 May to 31 October. We have gone through 120 trading days and there are only 3 days remaining in the review period. Since the data is averaged, there is a very small possibility of the names changing over the next few days.</p><p>At the current time, we see 16 potential inclusions and exclusions with a one-way turnover of 6.94%. This includes the fast entry inclusion of <a href="https://www.smartkarma.com/entities/kakao-games-corp" target="_blank" data-smartkarma-citation="entities:26730:1" rel="noopener">Kakao Games (293490 KS)</a>.</p><p>The expected inclusions have outperformed the expected deletions since the start of the review period but have given up a significant part of the gains over the last couple of months. With short selling still banned, there could be another period of outperformance prior to the announcement with continuation leading up to implementation date.</p>

The Korea Exchange (KRX) will announce the results of the December 2020 review of the KOSDAQ150 Index in the second half of November. The constituent changes will be effective from the open on 11 December 2020 and the rebalancing trades will need to be done at the closing auction on 10 December 2020.The review covers the period from 1 May to 31 October. We have gone through 120 trading days and there are only 3 days remaining in the review period. Since the data is averaged, there is a very small possibility of the names changing over the next few days.At the current time, we see 16 potential inclusions and exclusions with a one-way turnover of 6.94%. This includes the fast entry inclusion of Kakao Games (293490 KS).The expected inclusions have outperformed the expected deletions since the start of the review period but have given up a significant part of the gains over the last couple of months. With short selling still banned, there could be another period of outperformance prior to the announcement with continuation leading up to implementation date.

KOSDAQ150 Index Rebalance Preview: Reversion Sets Up an Attractive Entry Point

<div><p>The Korea Exchange (KRX) will announce the results of the June 2020 review of the KOSDAQ150 in the second half of May. The constituent changes will be effective from 12 June 2020 and the rebalancing trades will need to be done at the closing auction on 11 June 2020.</p></div><div><p>In this Insight we look at the KOSDAQ150 index methodology, the historical performance of inclusions vs exclusions, at the expected candidates for inclusion/exclusion in this review and some of the details around the names.</p></div><div>
<p>Following the completion of the review period on 29 April, we see between 10 to 13 stocks being added to and deleted from the index. This is the first rebalance where stocks from the Financial sector are eligible for inclusion in the KOSDAQ150 index, and the index committee may include them even though they do not meet all criteria for inclusion.</p>
<table class="table table-striped">
<colgroup>
<col>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td style="text-align: center; width: 216pt;" colspan="3">EXPECTED INCLUSIONS</td>
<td style="text-align: center; width: 209pt;" colspan="3">EXPECTED EXCLUSIONS</td>
</tr>
<tr>
<td><strong>Code</strong></td>
<td><strong>Name</strong></td>
<td><strong>Conviction</strong></td>
<td><strong>Code</strong></td>
<td><strong>Name</strong></td>
<td><strong>Conviction</strong></td>
</tr>
<tr>
<td>084850.KQ</td>
<td>ITM Semiconductor</td>
<td>HIGH</td>
<td>041830.KQ</td>
<td>InBody</td>
<td>HIGH</td>
</tr>
<tr>
<td>085660.KQ</td>
<td>CHA Biotech</td>
<td>HIGH</td>
<td>089600.KQ</td>
<td>Nasmedia</td>
<td>HIGH</td>
</tr>
<tr>
<td>268600.KQ</td>
<td>Cellivery</td>
<td>HIGH</td>
<td>049950.KQ</td>
<td>meerecompany</td>
<td>HIGH</td>
</tr>
<tr>
<td>060720.KQ</td>
<td>KH VATEC</td>
<td>HIGH</td>
<td>041140.KQ</td>
<td>Nexon GT</td>
<td>HIGH</td>
</tr>
<tr>
<td>095660.KQ</td>
<td>NEOWIZ</td>
<td>HIGH</td>
<td>036630.KQ</td>
<td>SEJONG TELECOM</td>
<td>HIGH</td>
</tr>
<tr>
<td>018290.KQ</td>
<td>VT GMP</td>
<td>HIGH</td>
<td>215360.KQ</td>
<td>W.I.C</td>
<td>HIGH</td>
</tr>
<tr>
<td>052260.KQ</td>
<td>SKbioland</td>
<td>HIGH</td>
<td>217730.KQ</td>
<td>KANGSTEM BIOTECH</td>
<td>HIGH</td>
</tr>
<tr>
<td>151910.KQ</td>
<td>NANOS</td>
<td>MEDIUM</td>
<td>044490.KQ</td>
<td>TAEWOONG</td>
<td>HIGH</td>
</tr>
<tr>
<td>282880.KQ</td>
<td>COWIN</td>
<td>MEDIUM</td>
<td>095190.KQ</td>
<td>EMKOREA</td>
<td>HIGH</td>
</tr>
<tr>
<td>125210.KQ</td>
<td>AMOGREENTECH</td>
<td>MEDIUM</td>
<td>222040.KQ</td>
<td>COSMAX NBT</td>
<td>HIGH</td>
</tr>
<tr>
<td>078070.KQ</td>
<td>Ubiquoss Holdings Inc</td>
<td>MEDIUM</td>
<td>047310.KQ</td>
<td>POWER LOGICS</td>
<td>LOW</td>
</tr>
<tr>
<td>038540.KQ</td>
<td>Sangsangin Co Ltd</td>
<td>MEDIUM</td>
<td>052020.KQ</td>
<td>STCUBE</td>
<td>LOW</td>
</tr>
<tr>
<td>032190.KQ</td>
<td>Daou Data Corp</td>
<td>MEDIUM</td>
<td>192440.KQ</td>
<td>Spigen Korea</td>
<td>LOW</td>
</tr>
</tbody>
</table>
<p>There have been multiple changes in the KOSDAQ150 index over the last couple of months due to constituent stocks being classified as 'Investment Attention Issues' making them ineligible to remain in the index.</p>
</div>

The Korea Exchange (KRX) will announce the results of the June 2020 review of the KOSDAQ150 in the second half of May. The constituent changes will be effective from 12 June 2020 and the rebalancing trades will need to be done at the closing auction on 11 June 2020.In this Insight we look at the KOSDAQ150 index methodology, the historical performance of inclusions vs exclusions, at the expected candidates for inclusion/exclusion in this review and some of the details around the names.
Following the completion of the review period on 29 April, we see between 10 to 13 stocks being added to and deleted from the index. This is the first rebalance where stocks from the Financial sector are eligible for inclusion in the KOSDAQ150 index, and the index committee may include them even though they do not meet all criteria for inclusion.











EXPECTED INCLUSIONS
EXPECTED EXCLUSIONS


Code
Name
Conviction
Code
Name
Conviction


084850.KQ
ITM Semiconductor
HIGH
041830.KQ
InBody
HIGH


085660.KQ
CHA Biotech
HIGH
089600.KQ
Nasmedia
HIGH


268600.KQ
Cellivery
HIGH
049950.KQ
meerecompany
HIGH


060720.KQ
KH VATEC
HIGH
041140.KQ
Nexon GT
HIGH


095660.KQ
NEOWIZ
HIGH
036630.KQ
SEJONG TELECOM
HIGH


018290.KQ
VT GMP
HIGH
215360.KQ
W.I.C
HIGH


052260.KQ
SKbioland
HIGH
217730.KQ
KANGSTEM BIOTECH
HIGH


151910.KQ
NANOS
MEDIUM
044490.KQ
TAEWOONG
HIGH


282880.KQ
COWIN
MEDIUM
095190.KQ
EMKOREA
HIGH


125210.KQ
AMOGREENTECH
MEDIUM
222040.KQ
COSMAX NBT
HIGH


078070.KQ
Ubiquoss Holdings Inc
MEDIUM
047310.KQ
POWER LOGICS
LOW


038540.KQ
Sangsangin Co Ltd
MEDIUM
052020.KQ
STCUBE
LOW


032190.KQ
Daou Data Corp
MEDIUM
192440.KQ
Spigen Korea
LOW



There have been multiple changes in the KOSDAQ150 index over the last couple of months due to constituent stocks being classified as 'Investment Attention Issues' making them ineligible to remain in the index.


KOSDAQ150 Rebalance Preview: The Final Cut

South Korea

STCUBE manufactures and sells synthetic resins such as acrylonitrile butadiene styrene (ABS) resins.  The Company's products have applications for electric and electronic products, computers, telecommunication equipment, and automobiles. STCUBE also produces resins for LG Chem Ltd. on an original equipment manufacturer (OEM) basis.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

STCube (052020 KS)

KOSDAQ150 Index Rebalance Preview: Reversion Sets Up an Attractive Entry Point

With 16 possible changes to the KOSDAQ150 in the Dec review with a one-way turnover of 7%, the recent underperformance of the inclusions vs the...

Brian Freitas

KOSDAQ150 Rebalance Preview: The Final Cut

The Korea Exchange (KRX) will announce the results of the June 2020 review of the KOSDAQ150 in the second half of May. The constituent changes will...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)